Slide 1: First Quarter 2024 Results
Exhibit 99.2 FIRST QUARTER 2024 RESULTS May 8, 2024 ©2024 Ziff Davis. All rights reserved. www.ziffdavis.com
Slide 2: Safe Harbor for Forward-looking Statements
Safe Harbor for Forward-looking Statements Certain statements in this presentation are “forward-looking statements” within the meaning Industry, Market and Other Data of the Private Securities Litigation Reform Act of 1995, particularly those regarding our 2024 Certain information that may be contai
Slide 3: Risk Factors
Risk Factors Some factors that could cause actual results to differ materially from those expressed or implied by the forward-looking statements contained in this presentation include, but are not limited to, our ability and intention to: • Sustain growth or profitability, particularly in light of a
Slide 4: Q1 2024 Consolidated Financial Snapshot
Q1 2024 Consolidated Financial Snapshot (1) Revenue (in millions) Adjusted EBITDA (1) Adjusted Diluted EPS (2) (in millions) 1. See slide 12 for a GAAP reconciliation of Adjusted EBITDA. 2. Adjusted Diluted EPS is calculated by dividing Adjusted net income (loss) by the diluted weighted average shar
Slide 5: Advertising and Performance Marketing
Advertising and Performance Marketing Quarterly Revenues (1) TTM Revenues (1) (in millions) (in millions) 2022 2023 2024 Quarterly Advertising and Performance Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Marketing Metrics Net Revenue Retention (2) 99.6% 94.1% 92.0% 91.2% 89.8% 88.9% 87.1% 91.6% Customers (3) 2,016 1,953
Slide 6: Subscription and Licensing
Subscription and Licensing Quarterly Revenues (1) TTM Revenues (1) (in millions) (in millions) 2022 2023 2024 Quarterly Subscription and Licensing Metrics Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Customers (2) 2,417 3,121 3,143 3,175 3,231 3,300 3,266 3,343 Average Quarterly Revenue per Customer (3) $57.02 $45.81 $4
Slide 7: Organic Growth
Organic Growth (1) 2022 2023 2024 Year over Year Growth Rates Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Organic Revenue (1) (5%) (7%) (7%) (6%) (6%) 0% (2%) 0% Total Revenue 2% (1%) (3%) (3%) (3%) 0% (2%) 2% 1. The Company includes revenue from an acquired business within the definition of organic revenue for the fir
Slide 8: Ziff Davis Capital Structure
Ziff Davis Capital Structure ($ in millions) March 31, 2024 Cash and Cash Equivalents $ 735 Short-term Investments 16 Long-term Investments 140 Total Cash and Investments $ 891 4.625% High-Yield Notes $ 460 1.75% Convertible Notes 550 Total Gross Debt (1) $ 1,010 Multiple of Q1 2024 TTM Adj. EBITDA
Slide 9: 2024 Financial Guidance
2024 FINANCIAL GUIDANCE
Slide 10: 2024 Guidance (Forward-Looking Statements)
2024 Guidance (Forward-Looking Statements) Ziff Davis reaffirms its annual guidance of Revenues, Adjusted EBITDA, and Adjusted Diluted EPS (1) Ziff Davis FY 2024 Guidance Range Low Midpoint High Midpoint YoY % Increase $ in millions, except for per share amounts vs 2023A Revenue $1,411 $1,441 $1,471
Slide 11: Supplemental Information
SUPPLEMENTAL INFORMATION
Slide 12: Reconciliation of GAAP to Adjusted EBITDA
Reconciliation of GAAP to Adjusted EBITDA $ in 000's Ziff Davis Three months ended March 31, 2023 2024 Net (loss) income $ (7,627) $ 10,627 Interest expense, net 4,480 1,769 Loss on sale of businesses — 3,780 Unrealized loss on short-term investments held at the reporting date, net 20,345 10,705 Gai
Slide 13: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP to Non-GAAP Financial Measures Unrealized (gain) loss (Income) loss Acquisition, Disposal Lease asset Adjusted GAAP Interest, (Gain) loss on on short-term from equity Amortization Share-based integration, related impairments non-GAAP amount net sale of business investments hel
Slide 14: Reconciliation of GAAP to Free Cash Flow
Reconciliation of GAAP to Free Cash Flow (1) $ in 000's Ziff Davis Three months ended March 31, 2023 2024 Net cash provided by operating activities $ 115,307 $ 75,558 Less: Purchases of property and equipment (30,017) (28,129) Free cash flow (1) $ 85,290 $ 47,429 1. Free cash flow is defined as Net